Since the base materials price have increased a lot, the builder may find it difficult to complete the project within the original cost, so they may drop this project and sell the land to someone else (It happened in the past with other builders) and return our deposits with interest or they may demand more money (Happened in Barrie recently) or they could build it.
Here is what I have received from Aspenridge yesterday.
Thank you for your email. Construction has not started yet.
Margo Purchasers were sent the Tarion Statement of Unavoidable Delay as a result of the pandemic, and at this time, we do not have an updated Occupancy date set.
Please wait for official correspondence from the Vendor that will advise of the revised dates.
On another question to the builder regarding why Margo project is not on their website, they responded 'It was removed, as we are sold out"
PS: I am fairly new to this as well.